Housing Will Strengthen in 2014

Housing Will Strengthen in 2014
Despite many headwinds, the housing recovery is expected to pick up in the next year.
“The cards are in play for a decent and fairly strong recovery in 2014 and particularly in 2015,” says David Crowe, chief economist for the National Association of Home Builders. "From the standpoint of GDP growth, housing has been a plus, growing at two, three, and four times the rate of the rest of the economy in recent quarters."

2013 California Real Estate Market Outlook

http://www.car.org/marketdata/marketforecast/
Interesting take on what is happening in the California market.

Freddie Mac: Mortgage rates up this week; 30-year loan averages 4.39%

http://www.latimes.com/business/la-fi-mo-freddie-mac-mortgage-rates-20130801,0,3975927.story

Fixed mortgage rates moved higher this week after two weeks of declines, with the widely watched Freddie Mac survey pegging the average rate for a 30-year home loan at 4.39%, up from 4.31% last week (LA Times)

Rapid home price gains will slow

http://money.cnn.com/2013/08/01/real_estate/home-price-gains/index.html

Home prices have been seeing rapid gains in recent months, but don't expect that to continue.
CNN

Will Rising Rates Lead to Buyer Rush?

Will Rising Rates Lead to Buyer Rush?

Mortgage rates soared to a two-year high last week, rising by the largest pace since 1987. Freddie Mac reported the average 30-year fixed-rate mortgage climbed from 3.93 percent to 4.46 percent last week. Some economists are predicting 30-year rates to climb to 4.5 percent and 5 percent over the next 12 months, following the Federal Reserve’s recent announcement that it will soon end a program that has kept interest rates near all-time lows for months.

Daily Real Estate News

Fabulous new Listing: 25900 Oak Street, #123, Lomita, CA., 90717

NOW IN ESCROW.....Fabulous new Listing: 25900 Oak Street, #123, Lomita, CA., 90717  $440,000

Very upgraded 3 BR / 2.5 Bath, 1488 SqFt

End Unit with a 2 car Garage and Extra storage
See this fabulous property by clicking here...

REALTORS® Urge Preserving Homeownership Tax Policies

As Congress pursues comprehensive tax reform it should focus on doing no harm to housing and America’s 75 million homeowners by maintaining current tax laws for homeownership and real estate investment, the National Association of REALTORS® said in testimony yesterday.
NAR President Gary Thomas testified before the U.S. House Ways and Means Committee concerning Federal tax provisions that affect residential real estate. Thomas said that homeownership has had long-standing support in the country because of its many benefits to individuals and families, communities and to the nation’s economy...
http://realtormag.realtor.org/daily-news/2013/04/26/realtors-urge-preserving-homeownership-tax-policies?om_rid=AABobn&om_mid=_BRerYZB8yNy71l&om_ntype=RMODaily

Where Are Home Prices Heading Through 2017?

Home prices are expected to continue their trajectory upward, projected to rise 3.7 percent between the third quarters of 2013 and 2014, according to Fiserv, which used data from the Federal Housing Finance Agency for its projection.
Following the third quarter of 2014, Fiserv predicts home prices to rise an average 3.3 percent annually over the next three years.

where-are-home-prices-heading-through-2017?

For Sale: 2431 Sparta Drive, Rancho Palos Verdes, CA 90275

Beautiful Single level View home in a very quiet area,
3 Br, Den, 2395 Sq.Ft, on a 20,000 Sq.Ft lot, Canyon, City and Harbor Views
$949,000

http://2431Sparta.com  

A Good Week for Housing

The housing recovery showed signs of strengthening this week, as two new reports showed home sales and prices on the upswing.
Existing-home sales have soared nearly 8 percent from a year ago, the National Association of REALTORS® reported this week. Meanwhile, the new-home market also is showing signs of recovery, with starts rising 29.1 percent over year-ago levels, according to the Census Bureau.
What’s more, home builders are getting more confident about the market with recent sales, future sales, and buyer traffic. Homebuilder confidence reached its highest level since the housing-boom time of June 2006, according to this month’s index of homebuilder sentiment.
Also this week, fixed-rate mortgages this week were at all-time record lows or near it, helping to keep home buyer affordability high, Freddie Mac reported in its weekly mortgage market survey.
Source: “Housing Recovery Blossoms,” CNNMoney (Sept. 19, 2012) and “Housing Recovery Stirs in August,” Associated Press (Sept. 19, 2012)

http://realtormag.realtor.org/daily-news/2012/09/21/good-week-for-housing?om_rid=AABobn&om_mid=_BQXJKFB8uNptO2&om_ntype=RMODaily

16 Hot Home Markets This Summer

http://realtormag.realtor.org/daily-news/2012/08/15/16-hot-home-markets-summer?om_rid=AABobn&om_mid=_BQK8ZVB8tffdK1&om_ntype=RMODaily

Albuquerque, N.M.

Atlanta, Ga.

Central Massachusetts

Colorado Springs, Colo.

Fernandina Beach, Fla.

Florence, S.C.

Houston, Texas

Kent County, Del.

Lake Charles, La.

Leesburg, Fla.

Los Angeles County, Calif.

Medford, Mass.

Mercer County, N.J.

New Orleans, La.

Orange County, N.Y.

Sheridan, Wyo.

Source: “Hot Home Markets: Summer Real Estate Heating Up Across Middle America,” RISMedia (Aug. 13, 2012)

Shortage of homes for sale creates fierce competition

http://www.latimes.com/business/la-fi-inventory-20120610,0,1637144.story

LA Times

NEW LISTING
5924 S. Pacific Coast Hwy #2, Redondo Beach, CA 90277
Area 128 – Hollywood Riviera
Very nice 2BR-2BA Townhouse in about 1346sf.
New appliances, New Paint, Updated throughout.
View into El Retiro Park. End unit, 2 car underground parking
Expected around May 23rd. $539,000 Call me: 310 346-0391

Home Prices to Rise 4% Per Year?

Have home prices finally hit bottom? Many analysts think so. According to the latest forecast by Fiserv, the market watcher sees a big boost to home prices on the horizon, projecting that home prices will rise nearly 4 percent per year for the next five years. The real estate markets expected to see the biggest increases in home prices will likely be those hardest hit the last few years by foreclosures, such as in Phoenix and Las Vegas, and areas where prices have fallen the most, according to Fiserv’s forecast. Housings rising affordability mixed with falling inventories of for-sale homes are the main factors driving the expected price increases, according to Fiserv. Initially, investors are expected to help drive most of this price increase, and then followed by first-time and trade-up buyers as they re-emerge in bigger numbers to the market. Daily Real Estate News | Wednesday, May 09, 2012

Manhattan Beach inventory is low!

Manhattan Beach inventory of single family active listings is way down this year. (66 listings as of 4/13/2012)
See them here... Call Jack McSweeney / RE/MAX Execs / 310 346-0391 to see the ones you like.

Have Home Prices Finally Reached Bottom?

“Prices are bottoming now,” according to a Bank of America Merrill Lynch forecast, released this week.

In the fall, the analysts had predicted home prices would drop by 8 percent from the second quarter of 2011 through the first quarter of 2013 — but now they’re revising that forecast, realizing the housing market is stabilizing faster than they originally thought.
HousingWire (March 22, 2012)

Warren Buffett on CNBC: I'd Buy Up 'Millions' of Single-Family Homes If I Could

Warren Buffett says along with equities, single-family homes are a very attractive investment right now.

Appearing live on CNBC's Squawk Box, Buffett tells Becky Quick he'd buy up "millions" of single family homes if it were practical to do so.

If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks. He advises buyers to take out a 30-year mortgage and refinance if rates go down.

Home Sales are up in most of the country

January pending home sales are up in most of the country and that is great news! Inventory is also at 5-6 year lows and interest rates are at all time lows.

Now is the time to buy your home! My open houses have been very good lately and the buyers are out. Don't miss the boat. Contact me and lets start the search. Rents are going up, don't pay somebody elses mortgage! You can enjoy the benefits of homeownership yourself.

Call me, 310 346-0391

March Is American Red Cross Month

l Every two seconds someone in the U.S.
needs blood.
l More than 38,000 blood donations are
needed every day.
l Donating blood is a safe process. A sterile
needle is used only once for each donor
and then discarded.
l The actual blood donation typically takes
less than 10-12 minutes. The entire process,
from the time you arrive to the time you
leave, takes about an hour and 15 min.
l The average adult has about 10 pints of
blood in his body. Roughly 1 pint is given
during a donation.
l One donation can help save the lives of
up to three people.
The American Red Cross works
with more than 50,000 blood
drive sponsors each year to hold
more than 200,000 blood drives,
providing convenient locations
for people to give blood.
www.redcross.org